Savings Rate December 2016

Savings Rate December 2016

December, and for that matter the whole of 2016, was fantastic from a savings rate perspective. We had a record month from the income side of things, and an average month in terms of expenses. This is a recipe for a winner. We ended up at a Savings Rate of 75.9% for December!

The summary for December is as follows:

  • Incomes from Mr .CF (one sign-on bonus and one pay check), Mrs. CF (two pay checks) and an expense claim hit the checking account. Life was very good!;
  • Income (principal and interest payments) from crowdfunding loans is now exceeding €180/month, this is a high as it is going to get and will stay this way for the coming 2-3 years (“hopefully”, see post on crowdfunding on details);
  • Transportation was just above normal due to the many family trips and that fact that we are now using our own car again to get to work, in short the current expenses are likely the new normal for the coming year;
  • Living expenses were below average this month, no surprises like unexpected maintenance and no property taxes or similar expenses either. This is the way we like it;
  • Groceries & grooming hit a record high in December, mainly because we did some massive shopping. Normally we take the bikes for the grocery trips, but this time we actually drove the car to the grocery store (we do this once every one-two months). To be honest, we actually needed to go elsewhere and were driving by the grocery store on the way back, talk about efficient use of the car :-). We used the opportunity to stock up on necessities;
  • Pretty much all social events were free, or virtually free. So again nothing interesting to report here. Had great fun with the various Christmas lunch and dinners, plus enjoyed some family time together over the holiday break. Most expenses associated with social activities are actually included in the groceries category this time around;
  • Costs for day-care and kid related expenses below normal as the benefits for 2017 have increased and the first payment arrived in December. Daycare will now “only” set us back about €955 per month for 4 days per week. But there are obviously also some other costs in this Kid category, such as cloths, toys, etc.; and,
  • The “Other” category was higher this month as Mrs. CF needed some new work clothing and a new jacket (she really got her money’s worth out of the old one).

The Overviews

For the year we actually did really good , if you don’t mind us saying. We ended the year with a overall savings rate of well over 60%. See below for the details (YTD totals on the left side):

2016 Savings Rate
2016 Savings Rate

The expense breakdown looks like this:

For 2017 we are not expecting such a high yearly savings rate, as we have some reno works still pending (as well as a bill for work done in 2016). Furthermore, we did not go on a holiday in 2016 due to job changes and moving to our new house. We do plan to go once, maybe even twice in 2017, so set aside a larger budget for this. We hope to still keep it above 50%.

Did  you do OK in December too? Was it also because of extra income, or were you able to limit the holiday expenses (or both!)?


  1. Nice job CF! Love the rising savings rates, even if it’s not going to be as high as that for the rest of the year. We had a pretty good December thanks to extra income, hopefully it can be high for the rest of the year.


    1. December months are generally very good for most due to bonuses, 13th month payments, etc. If you can keep you expenses in check that month, you can come ahead by quite a bit! Glad to read that you were happy with your December too! Best of luck with keeping up the high savings rate for 2017!

    1. This year was particularly good, but I hope on a 50% savings rate for this year (2017) in combination with more travel. Got to enjoy life now too.
      Take care Mr Tako.

  2. Congrats, that’s a really high savings rate. We honestly don’t track ours, so I don’t have one to share as comparison 😛

  3. Nice solid Results for Team Cheesy!

    Holidays are not to be forgotten… Curious to see where you will hang out in 2017, other than Antwerp off course! 😉

    1. Hello AT,
      they aren’t bad, are they? But got to keep focussing, it’s easy to let it slip.
      The trips for 2017 will be modest (little one cannot sit still very long), we are actually planning for a 9 week trip in southern Europe in 2018!

  4. Wow! Your savings rate is very impressive. At 76% savings rate is fantastic and a sure recipe for a winner as you. You should publish your cooking/recipe book 🙂 Very well done.

    1. Hhmmm recipe, let me see…. work hard and get lot’s of income, keep living “small/simple”, make your entire household as financially efficient as possible. There really is little magic 😉 Would be a very short cooking book I’m affraid.

  5. Happy new year Team CF and congrats on your great success.

    I heard about the meetup in Antwerp on the MMM forum and I would love to join. Too bad I missed the Breda meet already!

  6. A 76% savings rate to end the year is a heck of a way to send off the year in style. What amazes me is that you were able to do so with all of the excess traveling that you mentioned around the holidays. I can’t wait to find a way to achieve your savings rate one day! Best of luck to a strong 2017.


    1. Hey Bert,
      The travelling around the holidays is just a couple of 40 to 60 min car rides. This is what we consider a lot of travelling. It is the Netherlands 😉 Fortunately the costs are therefore very limited, which helped keep the costs down in December. But we do hope to do some more travelling next year, but this will certainly affect the saving rate a bit. But we are very OK with this.
      You all the best of luck too in 2017.

  7. Well done! 61% is really high, we saved 28% full year excluding one time transaction costs for the new house. But that also includes quite some renovation costs for the new and old house…

    1. That is certainly not bad, an SR of 28% for a year in which you are moving and doing renovations! Hat tip to you sir and madam.
      How’s the new place?

  8. Ow! And there I was, being pretty happy with my almost 50% savings rate and then you come and blow it out of the water with a 75% savings rate! Congrats!! Even if the savings rate drops to 50% in 2017 you will still be marching towards financial independence at an impressive pace!

    1. What can we say? Sorry 😉 It is going rather well, but it took some time to get to this stage. We have streamlines most of what’s possible/acceptable at this stage. But results are definitely showing and we are getting closer to FI.
      But the sloth doing 50% is pretty darn impressive too!

  9. Congrats on your impressive saving rate.
    Man I forgot how expensive daycare was. I’m glad my kids are going to school and we only need a few hours a day of daycare (lees : buitenschoolseopvang).
    My saving rate for 2016 came in just under 41%.
    I hope I can keep up this saving rate.



    1. Yeah, daycare rates/costs are scary…..
      We will be going for the BSO in 2018, not sure how much that is going to save us though. Should be a fair bit I would assume (fewer hours and lower rates).
      A very respectable savings rate Pollie, about 41% for the year is really good! Good luck in 2017 getting that even higher.

  10. Congrats on a strong December and a successful year!
    We managed to boost our savings rate in December to 69 %, for 2016 the average rate was 57.5 %. Our income was a bit higher and we benefit from improvements regarding our fixed cost block.
    We hope to increase our savings rate a bit further in 2017.

    1. Thanks FS, you also had an amazingly good December (and year) based on your numbers. Definitely something to be proud of!
      All the best for 2017.

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